Have you ever been in a position where you applied for a loan at a bank, not directly from the bank, but through an agent? Have you ever wondered why this person is trying to get you to apply for a loan when you can do it by visiting a bank or a non-banking company (NBFC)? Well, for starters, more often than not, it’s not a scam.
DSA loan partner’s job is to find potential customers for the bank they represent. For this purpose, DSAs are looking for people who are looking for a loan. These leads are then routed to the appropriate bank or NBFC and the loan process continues. A fee is provided for the efforts provided by loan DSA partner. This payment is a percentage of the loan type and loan amount. And this payment is a good way to earn a little extra. In rural areas, DSAs are known as business correspondents.
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